BusinessCourt Bars Seplat Energy CEO From Management Activities

Court Bars Seplat Energy CEO From Management Activities

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March 10, (THEWILL) – A Federal High Court in Lagos Wednesday issued an interim order restricting the Chief Executive Officer (CEO) of Seplat Energy, Roger Brown, from everyday running and management of the company.

The court also restricted Mr Brown’s proxies, agents and privies from managing the company until a decision is reached on a motion by some stakeholders on notice for interlocutory injunction.

The petitioners involved are Moses Igbrude, Ajani Abidoye, Sarat Kudaisi, Robert Ibekwe and Kenneth Nnabike who prayed the court to grant an order restraining the chair of the directors’ board, Basil Omiyi, and all independent non-executive directors of Seplat Energy from running the company’s affairs “in an illegal, unfairly, prejudicial and oppressive manner pending the hearing and determination of the petitioners’ motion on notice for interlocutory injunction.”

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The plea was granted, according to copies of court documents obtained by PREMIUM TIMES.

Justice Chukwuejekwu Aneke, the presiding judge, adjourned the lawsuit to 23 March, 2023, when the hearing of the pending application is due to commence.

Meanwhile, the petitioners made a separate request for an order forbidding Seplat Energy and its chairman from retaining Mr Brown as the company’s CEO or allowing him to serve in any other role within the firm.

The petitioners presented to the court exhibits including a letter directed to the minister of interior, stating allegations of racism, discrimination, favouritism and breach of corporate governance against the Seplat CEO.

Another letter from Rauf Aregbesola, Nigeria’s minister of interior, showing the ministry’s resolution of the petition, was also part of the exhibits

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Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.

Sam Diala, THEWILLhttps://thewillnews.com
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.

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